A new boutique, Gridl Asset Management, has opened in Munich and is teaming up with Universal Investment for a fund launch, founding partner Manfred Gridl told InvestmentEurope.
The boutique, founded by industry veterans Manfred and Marion Gridl (pictured), specialises in absolute return multi-asset class strategies and is now planning the launch of the Gridl Global Macro UI fund for retail and institutional investors.
The fund, which will be available in Euro and Swiss francs, is expected to be running in the first quarter of 2017.
Major German industry players such as Universal Investment and private bank Berenberg are backing the fund launch.
The Gridl Global Macro UI fund aims to achieve a minimum return of 3-month Euribor plus 3% in the medium term.
The fund will invest with a macro-economic top-down approach, which is based on the analysis of a Tactical Asset Allocation (TAA).
The portfolio is to be divided into a stable “basic portfolio” and a more dynamic “satellite portfolio”.
The aim of the basic portfolio is to generate returns of around 2% p.a. with the lowest possible fluctuation.
Depending on market assessments, the basic portfolio will generally make up between 30% and 70% of the fund’s assets.
Investments will focus on bonds with short and medium-term maturities, defensive stocks or dividend-paying stocks.
The satellite portfolio focuses rather on special themes and seeks returns of between 6% and 9% p.a. Investments in this portfolio can be on high-yield bonds, emerging market investments (stocks and bonds), opportunistic equity investments or even special industry-specific or thematic investments.